too scared to make a call

vics1928

Ah ok so asking for them on one call - great! Problem is I want to give creditors all I can love the idea of doing it myself but don't know if I would have the time or don't want it coming out my main bank - do you mind me asking could you walk me through how you did it

glentoran99

sourcrates wrote: »

This is an excellent example of what everyone considering a DMP should do.
Keep control over it yourself, the debt charities do an excellent job for lots of people, but this is so easy to do yourself, anyone with a little time, and common sense can do this, especially if you don't have that many creditors, but even if you do, its still sensible to stay in control of where your money goes.

Its easy to do, but at the time I started with GP i wasnt even aware the free debt charities existed, never mind being able to do it yourself.

Although GP are getting slated I cant really fault what they did, apart from charging for it.

Its only now and quite a lot of it is credit to these forums I understood what needed to be done and was able to take over myself. Its sickening thinking how much i paid gregory pennington over the time I was with them as i would actually be debt free now, but they way i thought about it at the time was it was a lot less than the interest i was being chargd

vics1928

Thanks can I ask what you paid them on your last month's? And can you walk me through after the phone call I don't know where to start

glentoran99

vics1928 wrote: »

Ah ok so asking for them on one call - great! Problem is I want to give creditors all I can love the idea of doing it myself but don't know if I would have the time or don't want it coming out my main bank - do you mind me asking could you walk me through how you did it

vics1928 wrote: »

Thanks can I ask what you paid them on your last month's? And can you walk me through after the phone call I don't know where to start

the last month I paid them I paid the full payment, it was just after that i did the following

Its pretty much as i said above, but step by step

1. Phone Gregory pennington and got all account numbers (you could do this on same call as leaving, this is just what i did)

2. Phoned each of the creditors, (if you prefer do it in writing) informing them i would no longer be using gregory pennington
but the next payment would be the same as they previously recieved, and got bank details for payment

4. Phoned GP and left, and then cancelled DD

3. Filled this out https://www.nationaldebtline.org/EW/steps/step2/Pages/Step_2_11.aspx

4. Sent it to Creditors and each responded that it would be acceptable, payments are now set up as standing orders (not direct debits)

job done, your creditors will likely all be happy that they are getting more than previously and overall you could even still be paying less out

glentoran99

vics1928 wrote: »

Ah ok so asking for them on one call - great! Problem is I want to give creditors all I can love the idea of doing it myself but don't know if I would have the time or don't want it coming out my main bank - do you mind me asking could you walk me through how you did it

Can i ask why?

vics1928

Thank you so much for that I am somewhat naive to it all!! I am worried if they have my bank details they can take what they want

glentoran99

vics1928 wrote: »

Thank you so much for that I am somewhat naive to it all!! I am worried if they have my bank details they can take what they want

you dont give them any details, you set up a standing order with their details with your bank for the agreed amounts, (you an do it yourself with online banking) they dont have access to take what they want as they can with a direct debit mandate.

In essence you are sending them money, they arent taking it

vics1928

Ah I see okay that's fantastic - now I am starting to see it - although as some of my creditors are now with people like cap quest etc debt agents would I send the money to them or the original company

glentoran99

You send it to who the debts are with now,

It is scary the thought of phoning them all etc, but in my experience they were actually ok, even leaving GP, no hard sell or anything she just seemed very disappointed.

But if you really dont want to call you can do it all in writing. and once its all up and running you are in the same situation as you were with GP, creditors happy, payments being made, except your debts are likely reducing quicker

vics1928

I see and you get all the financial details of which debt is which and who it is with on the call and phone / write and tell them how much you are happy to pay them? Is that what you did. Did you have to include your income and expenditure